Designated contract market vs sef qrjbkax

Designated contract market vs sef

04.01.2021

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Market Regulation: Designated Contract Markets and Swap Execution Facilities NFA has provided regulatory services to designated contract markets (DCM) for more than 15 years. The Dodd-Frank Wall Street Reform Act created a new type of trading venue for standardized swaps—swap execution facilities (SEF)—each of which has self-regulatory responsibilities to monitor trading on its platform. The Commodity Futures Trading Commission (``Commission'') is adopting regulations that establish a process for a designated contract market (``DCM'') or swap execution facility (``SEF'') to make a swap subject to the trade execution requirement pursuant to the Commodity Exchange Act (``CEA''). What’s a SEF: A SEF is an electronic trading platform designed to facilitate automated swap execution amongst large derivative counterparties for standardized swap contracts, intended to increase market transparency and efficiency. The first set of SEF trading mandates take effect on February 17, 2014. For swaps executed on or pursuant to the rules of a swap execution facility (“SEF”) or designated contract market (“DCM”), the SEF or DCM is responsible for reporting “swap transaction and pricing information” and “swap creation data” to the SDR (as described in the sidebar). The Commission also proposed regulations for designated contract market or swap execution facility to notify the Commission that it has made a swap available to trade for purposes of § 2(h)(8) of the Commodity Exchange Act. swaps executed on or pursuant to the rules of a registered SEF or a designated contract market (DCM), and those swaps executed bilaterally between counterparties and not pursuant to the rules of a SEF or DCM (off-facility swaps). Execution Facility (“SEF”) • SEFs are a new definition of trading facility that is not a designated contract market (“DCM”) Cleared swaps that are “sufficiently liquid” will be required to trade on Regulated Markets, Multilateral Trading Facilities (“MTF”) or Organised Trading Facilities (“OTF”)

11 Sep 2016 cybersecurity testing and other requirements for derivative clearing organizations as well as for designated contract markets, swap execution

4 Jun 2013 Process for a Designated Contract Market or Swap Execution Facility To. Make a Swap 17 CFR 40.6(c)(1). 11 See 17 CFR 40.5(a)(5), 40.6(a)(7)(v). trade execution does not apply ''if no [DCM or SEF] makes the swap Designated Contract Market Filings DCMs may implement new rules or rule amendments by filing with the CFTC a certification that the rule or rule amendment complies with the CEA and CFTC regulations and policies and/or by requesting approval from the CFTC, pursuant to the requirements under Part 40 of the CFTC's regulations.

swaps executed on or pursuant to the rules of a registered SEF or a designated contract market (DCM), and those swaps executed bilaterally between counterparties and not pursuant to the rules of a SEF or DCM (off-facility swaps).

FINAL RULE: Designated Contract Market Core Principles approved at CFTC If a DCM operates as an SEF, it must register separately as an SEF, and, if the and documentation requirements for swaps versus futures would be present

6 Nov 2018 Micah S. Green, Charles R. Mills, Richard Shilts, Michael V. Dunn, Josh execution facilities (SEFs), designated contract markets (DCMs), swap dealers, It is expected that the proposed changes to the SEF rules and the

Designated contract markets (DCMs) are exchanges that may list for trading futures The Questionnaire must be completed by SEF applicants per Exhibit V to for Designated Contract Markets (DCMs) and Swap Execution Facilities (SEFs) or a SEF, except where no DCM or SEF makes the swap “available to trade” or GlossaryDesignated Contract Market (DCM)Related ContentTraditional swap execution facility (SEF) (see Legal Update, MAT Summary: CFTC Swap The CFTC's SEF rules allowed these entities to contract with NFA for regulatory services. NFA entered into Regulatory Service Agreements (RSA) to perform 16 Sep 2019 Contract market, or designated contract market, is a registered The other type of exchange is called a swap execution facility (SEF).

COMEX is a Designated Contract Market that offers the following products subject to COMEX rules and regulations: NYMEX is a Designated Contract Market that offers the following products subject to NYMEX rules and regulations: CME Group is the world's leading and most diverse derivatives marketplace.

25 Jun 2015 for Derivatives Clearing Organizations, Designated Contract Markets, However, the DCM/SEF proposal includes no limit on the aggregate 14 Oct 2015 executed on a designated contract market (“DCM”) or swap execution facility (“ SEF”), unless no. DCM or SEF makes such swap available to 13 Feb 2012 Re: Process for a Designated Contract Market or Swap Execution Facility swaps through a SEF requiring pre-trade transparency could changed; and (v) the number of execution venues with an active two-sided market in 8 Mar 2018 swap execution facility or a designated contract market. 11 that may have a severe, adverse effect upon the functioning. (v) of the SEF. 42 4 Nov 2018 Participant Eligibility and Access to the SEF; ISV Eligibility and Access to the SEF swap execution facility or a designated contract market. (v) prepare an annual report for the Board and the CFTC describing the Company's. 20 Mar 2014 (“SEF”) or designated contract market (“DCM”), unless an exemption or of differing tenors), swap spreads (government securities vs. swaps